A guide to understanding and entering cloud mining

 

If you’re looking to enter the cryptocurrency industry, then there are two ways that you can get this done; you can go to an exchange get your tokens, or you can make them.

The “making” process has been described as mining, and it can be broken down into two general parts; purchases and cloud mining.

In a nutshell, these are the two most popular ways through which a person can get into the mining game. So, let’s take a look at both.

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The ASIC software

If you will want to mine pretty much any of the major cryptocurrencies (including and especially Bitcoin) these days, it is important that you become a part of a mining pool and get your hands on ASIC (application-specific integrated circuit) mining software.

This is even more true if you will like to mine and lose as little cash as possible on your operation.

As things stand, the ASIC hardware are preferred because they are the only form of hardware that have the power required to mine most of the major crypto assets.

In addition, you will need to join a pool because no single person can muster up enough hash power to mine a complete block of currencies on their own.

A lot of people who look to mine as a hobby tend to use GPUs or CPUs today. The requirement to join a mining pool is still there, but this method has proven to be ineffective over time.

With an ASIC (or a hardware with just as much power), you have a higher chance of making a profit on your mining operation.

Also, energy costs need to be factored in because in some areas of the world, the cost of energy is too high, and this can impact the profits you make off your mining operation.

Cloud mining

Well, that solution is the most likely what you get with cloud mining.

In its simplest form, cloud mining is the activity of mining your tokens with the help of the cloud. It is the use of generally shared processing power, which comes from remote data centres.

Also Read: Mudrex helps crypto traders automate their trading on multiple exchanges without writing code

Cloud mining has the following things going for it:

Better effects on the environment: You can run a cloud mining operation from your home without any inconvenience. There is no heat, and you don’t need to get any fans to keep your systems from overheating, so there’s no noise.

Cost-effectiveness: Also, cloud mining doesn’t need to be a pain on your bill, because you won’t have to pay any additional electricity costs. There is also a lesser chance of being disappointed by any suppliers of mining equipment.

As for the cons of cloud mining, well, they’re quite manageable. As a matter of fact, the most significant con that cloud mining has is the fact that you might not get as much profit from it as you will get with using a fully-formed mining systems.

Also, profits are lower because the operators of these data centers might tend to take their cut of the tokens mined; keep in mind that they have to make money to maintain their system as well.

The most popular forms of cloud mining are the following:

Hosted mining: With hosted cloud mining, you get to lease a mining system that is hosted by your service provider.

Virtual hosted mining: Under this cloud mining form, you get to create a virtual private server, then have your mining software installed on the server.

Leased hashing power: This just might be the most interesting form of cloud mining. Here, you lease an amount of hashing power. It is especially innovative because, with it, you don’t have to rely on the use of a special virtual or physical computer.

Now, if the concept of cloud mining seems enticing to you, then you should definitely check out CryptoUniverse.

The entire CryptoUniverse ecosystem began as merely a “side hustle.”

Three business partners became interested in cryptocurrencies as far back as in 2015, and they began buying up digital assets and learning more about the dynamics of POW mining and crypto assets themselves.

Also Read: Why it makes sense to do business in cryptocurrency

Before long, they were able to open up a fully functional, state of the art mining farm and all the equipment that they needed to mine at a certain scale at the time.

By 2017, CryptoUniverse LLC. was established and the company has continued to grow in leaps and bounds ever since then.

Currently, CryptoUniverse boasts one of the strongest and most stable mining solutions in the entire world.

Particularly, they provide two major services; cloud mining, and sales of mining equipment (as well as complimentary installation services as well).

With a network of well over 30 thousand clients, things are looking up for the company, they have been able to build their services to help them with proper scaling.

CryptoUniverse provides mining equipment, as well as a state-of-the-art cloud mining service.

With their suite of offerings, you can be rest assured that your mining operations will be profitable and easy to manage.

As things stand, CryptoUniverse maintains one of the most stable pricing structures in the world.

Their prices are reliable, and they make payments on time, regardless of whether you’re running a cloud mining service or if you are mining tokens on your own.

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